Is Crypto Currency Purchase Right or not?

New Delhi, India
May 16, 2021 1:53pm CST
cryptocurrency is a digital money and it is very popular in the pandemic. i am confused why all people are saying bro do you have bitcoin, do have a dogecoin. why it is popular. Why i am taking risk .. Why am i wasting money. What is benefits........ Do you have any suggestion for the cryptocurrency
8 people like this
7 responses
@Robinhuut (457)
• Bogor, Indonesia
17 May 21
I tried to find freebies like mining bitcoins
1 person likes this
• New Delhi, India
17 May 21
its beneficial ?
• Bogor, Indonesia
17 May 21
I haven't tasted it yet but it looks promising
1 person likes this
@louievill (28851)
• Philippines
16 May 21
It won't hurt if you add crypto to your investment but remember only with money that you can afford to lose. I suggest you do a little research and study. Read about blockchain technology. Crypto currency will become money of the near future because all transactions are in a public ledger that nobody could hide or cheat unlike the present financial system that's controlled by banks and central banks and has the power to print all the paper money they want to print that's not backed by anything like gold or silver. I had kept crypto since 2014. Welcome to Mylot
1 person likes this
• New Delhi, India
17 May 21
Thku
1 person likes this
@kaylachan (60583)
• Daytona Beach, Florida
16 May 21
Do your research before you buy or sell crypto. It has its value, but like with any investment it can be worthless in in no time flat.
1 person likes this
@porwest (79174)
• United States
20 May 21
Cryptocurrency is simply something "in fashion" right now. Is it something valuable as an investment? Despite what even some crypto "experts" suggest, I am not convinced anyone really knows the answer to that. Obviously there is a current value, but based on what valuation is the question. And what is the long term benefit to it? Again, it's a question I don't think anyone can really answer. My thoughts on crypto are pretty simple. It's not an investment so much as it is a pure speculative play. In other words, it's a complete gamble, and as such, any money "invested" in crypto needs to be treated the same way as someone treats walking into a casino. That is, you have to be comfortable that any money you put into crypto will likely one day be completely lost. Buy what you can afford to lose just like any money you would put into a slot machine or that you would plop down onto the counter for a lottery ticket. I know some people will tell you that there is some "knack" or "know-how" to the whole thing, and with most investments there usually is. But I think crypto is unlike any other asset class out there and for a lot of reasons. I won't bore you with the details of that thought since it can get long and complicated, and frankly doesn't necessarily matter. Long and short is if you want to give it a go, just make sure it's money you can afford to and are okay with losing.
1 person likes this
@sharonelton (25936)
• Lichfield, England
17 May 21
I tried to get myself on a cryptocurrency site once but they didn't take visa so I couldn't.
• India
17 May 21
Nope. Never traded in crypto. But it is one strange entity and one strange investment which can never ever be predicted. Like, see what Elon did. He brought he sold, and now the dogecoin value has dropped significantly. Well, that's the cryptocurrency for you.
1 person likes this
@avi256 (8489)
• Pune, India
17 May 21
If you are living in India, and buying bitcoin through any bitcoin wallet like zebpay or coinswitch, there is always a risk of what government policies will come up with. I had some cryptos in 2018 including bitcoins, but I had to sell them all as the budget proposed that all Indian banks will not involve in bitcoin buying or selling. Not sure what policies are now, but point is all depends govt policies with bitcoins at that time.